Purchasing real estate is a significant decision that needs careful thought, particularly for foreigners.
Renting a private home or a business property may be an option for foreigners living in Indonesia.
Making the correct choice can pay off in the long run in terms of investment and comfort. Identifying the goal of the purchase is crucial before you begin your property search.
Is it for business, investment, or living expenses? Also, make sure you have a suitable budget and consider payment options such as cash, gradual installments, or mortgages.
Can foreigners get a mortgage in Indonesia?
Not only Indonesian citizens, the Home Ownership Credit facility can now be enjoyed by foreigners.
As is known, the government has given permission for foreign citizens to buy property in Indonesia.
The provisions are listed in the Ministerial Regulation (Permen) ATR / BPN No.18 of 2021 concerning Procedures for Implementing Management Rights and Land Rights.
It is stated in the regulation derived from Law No.11 of 2020 concerning Job Creation (Job Creation Law), that;
Foreign nationals are allowed to own a landed house with the status of a right of use built on state land, or a landed house with the status of a right of use on freehold land or Management Rights (HPL).
Choosing a property from a trusted developer can save you from the risk of a stalled project or poor building quality. Lets Move Group, as one of the trusted real estate agents, always presents quality products that prioritize the needs of the community.
Lets Move Group is an Indonesian real estate company that provides a number of services to help people purchase, sell, or rent homes in Jakarta and Bali. They offer property finance services, property legal consultations, and residential and commercial real estate services.
They launched the first Indonesian mortgage brokerage service in Indonesia in 2023, providing free consultations and objective mortgage advice.
First-time buyer, re-mortgaging, and expatriate mortgage options are among their mortgage services. They work with a number of banks to get their customers exclusive offers and competitive interest rates. The business maintains offices in Seminyak, Canggu, and Sanur, as well as in Jakarta and Bali.
Applying for an Indonesian Mortgage
In general, there are two types of mortgages known to the public: subsidised and unsubsidised mortgages.
A subsidised mortgage is a home ownership credit programme with a reduced down payment or interest rate due to government assistance.
Meanwhile, an unsubsidised mortgage is a home ownership credit programme without subsidies, provided by banks for the general public.
In practice, subsidised mortgages are usually intended for individuals with limited income, aiming to provide affordable housing.
On the other hand, unsubsidised mortgages are available to the general public, including individuals and business entities.
The requirements for obtaining a home mortgage differ for each type.
Get the Best Indonesian Mortgage Options with Lets Move Group
Lets Move Group provides a range of listings in Jakarta and Bali for individuals looking for real estate options. They offer homes and apartments in neighborhoods like Kuningan and Tangerang for sale or rent in Jakarta. They provide real estate in areas like Seminyak, Canggu, and Sanur in Bali.
A mortgage calculator is available on their website to assist prospective purchasers in understanding financing options and estimating the cost of the home they have in mind. In addition, they provide legal services for real estate transactions, such as help with property certificates and due diligence.
By providing comprehensive real estate and financial services, Lets Move Group aims to simplify the property acquisition process in Indonesia.
